The Closed System
|Area||Corporate Finance and Securities|
Article originally published in Canadian Lawyer Magazine
Excerpt from "The Closed System":
There are many reasons to keep old rules around after they have outlived their apparent purpose and utility. For example, securities rules tend to result in systems and processes in which there is significant investment; those practices acquire inertia, and the prospect of reversing course can seem as daunting as a large oil tanker performing a quick U-turn at sea.